Segmentz Reports Fourth-Quarter Loss

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ransportation and logistics services company Segmentz Inc. reported late Wednesday it lost $2.2 million or 8 cents a share in the fourth quarter, compared with a profit of $51,000 or less than 1 cent a share a year earlier.

he company attributed its loss in part to increased general and administrative expenses, acquisitions and technology spending.

Segmentz said its revenue for the quarter grew 213% to $14 million.

The company said in a statement that it planned to consolidate and eliminate redundant expenses in 2005 and that it “will continue to transform a significant portion of its fleet to an owner-operator model.”

Segmentz’s units include trucking company Express-1 Inc., acquired last year, which handles expedited air and ground services.

For the full year Segmentz reported a loss of $3.2 million or 14 cents a share, compared with earning $377,000 or 4 cents in 2003. Its full-year revenue grew almost 200%, to $42.5 million.